Compass Pathways (NASDAQ:CMPS) Stock Rating Upgraded by Evercore

Compass Pathways (NASDAQ:CMPS) was upgraded by research analysts at Evercore from an “in-line” rating to an “outperform” rating in a report issued on Wednesday. The firm currently has a $21.00 target price on the stock. Evercore’s price objective indicates a potential upside of 53.53% from the stock’s current price.

Other analysts also recently issued reports about the stock. Compass Point set a $25.00 price target on shares of Compass Pathways in a report on Tuesday. HC Wainwright reissued a “buy” rating on shares of Compass Pathways in a research note on Friday, May 22nd. Canaccord Genuity Group raised their target price on Compass Pathways from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Royal Bank Of Canada upped their price target on Compass Pathways from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Finally, Morgan Stanley restated an “overweight” rating and issued a $17.00 price objective on shares of Compass Pathways in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.15.

Compass Pathways Stock Performance

NASDAQ CMPS traded up $0.69 on Wednesday, reaching $13.68. 1,322,103 shares of the company’s stock traded hands, compared to its average volume of 3,687,383. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -4.35 and a beta of 2.47. The stock has a 50 day moving average price of $11.70 and a 200-day moving average price of $8.48. Compass Pathways has a fifty-two week low of $3.45 and a fifty-two week high of $15.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.32 and a current ratio of 3.32.

Compass Pathways (NASDAQ:CMPS) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.15. Equities research analysts predict that Compass Pathways will post -1.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Compass Pathways

Hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank increased its stake in shares of Compass Pathways by 152.9% in the 4th quarter. Toronto Dominion Bank now owns 2,529,013 shares of the company’s stock worth $17,447,000 after acquiring an additional 1,529,013 shares during the last quarter. Nantahala Capital Management LLC raised its position in Compass Pathways by 47.7% in the second quarter. Nantahala Capital Management LLC now owns 4,179,930 shares of the company’s stock valued at $11,704,000 after purchasing an additional 1,350,698 shares during the period. Ameriprise Financial Inc. purchased a new position in shares of Compass Pathways during the 3rd quarter worth $6,926,000. Orbimed Advisors LLC acquired a new position in Compass Pathways in the first quarter valued at about $6,363,000. Finally, Siren L.L.C. purchased a new stake in shares of Compass Pathways in the 4th quarter valued at approximately $6,900,000. 46.19% of the stock is owned by hedge funds and other institutional investors.

About Compass Pathways

Compass Pathways (NASDAQ: CMPS) is a clinical-stage biotechnology company focused on the development and commercialization of psilocybin therapy for mental health disorders. Founded in 2016 and headquartered in London with additional offices in the United States, Compass Pathways is pioneering the use of synthetic psilocybin combined with psychotherapy to address treatment-resistant depression. The company’s flagship program is a Phase IIb clinical trial evaluating COMP360, its proprietary psilocybin formulation, which has received Breakthrough Therapy designation from the U.S.